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At August 31, the end of the first month of operations, the usual adjusting entry transferring prepaid insurance expired to an expense account is omitted. Which items will be incorrectly stated, because of the error, on (a) the income statement for August and (b) the balance sheet as of August 31? Also indicate whether the items in error will be overstated or understated.
Economics students at your school offer tutoring services to students in regular economics courses. A. Draw a correctly labeled graph showing the supply curve for tutoring services measured in hours. Label the supply curve
B. Suppose the wage paid for babysitting, an alternative activity for
Economics students, increases. Show the effect of this wage increase on the graph you drew for part a. Label the new supply curve
C. Suppose instead that the number of
Economics students increases. Show the effect of this increase in
Economics students on the same graph you drew for parts a and b. Label the new supply curve
The Environmental Protection Agency measures city fuel economy by placing the vehicle on a laboratory dynamometer and determining the amount of fuel consumed during a standard speed-distance schedule that simulates an urban trip. File XR14034 lists the miles per gallon data for three different automobile models. Can we conclude at the level that the three models have the same median fuel economy? Identify and interpret the -value for the test.